Opaleye Management Lowers stake in Immunomedics (IMMU)

Immunomedics (IMMU) : Opaleye Management reduced its stake in Immunomedics by 1.89% during the most recent quarter end. The investment management company now holds a total of 1,300,000 shares of Immunomedics which is valued at $3,796,000 after selling 25,000 shares in Immunomedics , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Immunomedics makes up approximately 2.18% of Opaleye Management’s portfolio.

Other Hedge Funds, Including , Krasney Financial reduced its stake in IMMU by selling 3,000 shares or 7.64% in the most recent quarter. The Hedge Fund company now holds 36,275 shares of IMMU which is valued at $105,923. Immunomedics makes up approx 0.02% of Krasney Financial’s portfolio.Rhumbline Advisers boosted its stake in IMMU in the latest quarter, The investment management firm added 13,313 additional shares and now holds a total of 115,948 shares of Immunomedics which is valued at $338,568.Blackrock Fund Advisors reduced its stake in IMMU by selling 248,272 shares or 6.62% in the most recent quarter. The Hedge Fund company now holds 3,501,476 shares of IMMU which is valued at $10,224,310.California Public Employees Retirement System reduced its stake in IMMU by selling 4,300 shares or 3.05% in the most recent quarter. The Hedge Fund company now holds 136,500 shares of IMMU which is valued at $382,200.

Immunomedics closed down -0.01 points or -0.37% at $2.71 with 5,48,027 shares getting traded on Monday. Post opening the session at $2.71, the shares hit an intraday low of $2.65 and an intraday high of $2.77 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Many Wall Street Analysts have commented on Immunomedics. Immunomedics was Downgraded by Wells Fargo to ” Market Perform” on Jun 21, 2016.

Immunomedics Inc. is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer autoimmune disorders and other serious diseases. The Company’s technologies allow it to create humanized antibodies in unlabeled or naked form or conjugated with radioactive isotopes chemotherapeutics cytokines or toxins. Its product candidates include 90Y-clivatuzumab tetraxetan. Its radiolabeled antibody is in a Phase III registration trial in patients with advanced pancreatic cancer. Its portfolio of investigational products also includes antibody-drug conjugates (ADCs). Its ADCs consist of sacituzumab govitecan (IMMU-132) and labetuzumab govitecan (IMMU-130) which are in Phase II trials for a number of solid tumors and metastatic colorectal cancer (mCRC) respectively. It has other product candidates that target solid tumors and hematologic malignancies as well as other diseases in clinical and pre-clinical development-stages.

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